On January 1, Montgomery Inc. issued $200,000 of 12% 5-year bonds when the market interest rate was 10%. The bonds pay interest semiannually on June 30th and December 31. Proceeds received were $215,443. These bonds were issued at a DISCOUNT/PREMIUM (circle one) because the Contract Rate is EQUAL TO/ GREATER THAN/ LESS THAN (circle one) the Market Rate Record the following transactions: Bond issue on January 1 Paid semiannual interest on June 30 Amortized the bond premium or discount